The financials
West Pharmaceutical Services by the numbers
West Pharmaceutical Services (WST) reported revenue of $845M in Q1 2026 (quarter ended March 31, 2026), up 21% from the same quarter a year earlier. That came with a gross margin of 35% and net income of $139M (16% of revenue). For the full year FY2025, revenue was $3.07B (+6.3% year on year) and net income $494M. Its largest segment in 2026-Q1 was Proprietary Products at $694M, 82% of the disclosed total, just ahead of West Vantage at 18%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $845M | $698M | +21% |
| Gross profit | $296M | $232M | +28% |
| Operating income | $177M | $107M | +66% |
| Net income | $139M | $90M | +55% |
| Diluted EPS | $1.92 | $1.23 | +56% |
| Operating | Revenue | Share |
|---|---|---|
| Proprietary Products | $694M | 82% |
| West Vantage | $151M | 18% |
Business Segments
Revenue split by operating segment, from SEC XBRL filings.
Latest period: Q1 2026Total $844.9M (+5.0%)
Proprietary Products grew +23% year on yearWest Vantage +12% year on year
Segment Latestquarter on quarteryear on year
- Proprietary Products$694.3M$694.3MQoQ +7.2%year on year +23%+7.2%+23%
- West Vantage$150.6M$150.6MQoQ -year on year +12%-+12%
- Contract Manufactured Products--QoQ -year on year ---
Medical Instruments & Supplies
Ranks #4 of 27 by Smart Score